Types of Residences

Types of Residences

Housing is a basic necessity for the humankind. Their designs are varied across the world, depending on innumerable factors. Geography plays a vital role in the type of house. And so do factors like choice, budget, location, purpose, number of inhabitants etc.

We have listed down the different types of housing/houses seen in the international real estate market. The purpose of the article is to educate you about the types of houses and help you choose one, based on your convenience.

  • Condominium

More commonly known as apartment or residential complex in India, condominiums are buildings that have several flats in them. Condominiums have individual ownership of flats called condos, with common areas like parking, park, gym etc. For the maintenance of these spaces, a fee is paid by the residents to the association.

  • Single family residence

These are stand-alone buildings which are constructed on a plot of land owned by the house owner. The size, shape and style of such residences differ from region to region, depending upon the need, budget and choice of the owner.

  • Townhouses

Townhouses are just another form of single family residences. These house have more than one floors, which may or may not be used by the owner. Villas are the most common form of townhouses. However, some townhouses are often built on smaller plots of land, with more floors added to them.

  • Multi-family houses

Multi-family houses are a combination of condominiums and townhouses. Such houses are built by two or more people, who later share the house. Facilities are shared between them. However, there is no association and no maintenance fee to be paid. These houses are mostly built among family members or friends.

  • Investment properties

Investment properties are built solely for the purpose of renting out. The distinctive feature of such properties is the fact they often do not have much free space. They are built to fit the purpose and mean just business. These houses are most commonly seen in localities that have a strong concentration of bachelor tenants.

However, these are just a few most common forms of residencies seen across the world. There are several others that haven’t featured in this list.

Let us know your thoughts in the comment section below.

Picture courtesy- Pixabay

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